 "Footwear stocks extend rally on FII buying")
Shares of footwear makers have rallied by up to 14%, extending their previous day’s rally on the bourses after foreign institutional investors (FIIs) bought stake in Relaxo Footwears via open market.
Relaxo Footwears has surged 15% to Rs 523, extending its previous day’s 20% gain on the NSE after WestBridge unit bought more than one percent stake in the company via open market.
On Monday, April 4, 2016, Jwalamukhi Investment Holdings, a unit of WestBridge, purchased 1.87 million equity shares representing 1.55% of total equity of Relaxo Footwears for about Rs 80 crore through block deal, the NSE data shows. FII bought these shares at an average price of Rs 425 per share.
VLS Finance sold 1.77 million shares at Rs 425 per share, data shows. VLS Finance (6.71%) and VLS Securities (6.79%) collectively held 13.5% stake in Relaxo Footwears at the end of December 2015 quarter.
Among the other individual stocks, Liberty Shoes has rallied 10% to Rs 184, extending Monday’s 16% rally on back of heavy volumes. The trading volumes on the counter jumped multiple-folds with a combined 1.28 million shares changed hands till 10:23 am, against an average sub 100,000 shares that were traded daily in past two weeks on the NSE and BSE.
Lawreshwar Polymers (up 7% at Rs 47), Mirza International (up 3% at Rs 108), Superhouse (3% at Rs 159) and Bata India (up 1.3% at Rs 530) were up more than 1% each on the BSE. These stocks rallied between 5%-25% in past two trading sessions as compared to unchanged in the S&P BSE Sensex.
Relaxo Footwears has surged 15% to Rs 523, extending its previous day’s 20% gain on the NSE after WestBridge unit bought more than one percent stake in the company via open market.
On Monday, April 4, 2016, Jwalamukhi Investment Holdings, a unit of WestBridge, purchased 1.87 million equity shares representing 1.55% of total equity of Relaxo Footwears for about Rs 80 crore through block deal, the NSE data shows. FII bought these shares at an average price of Rs 425 per share.
VLS Finance sold 1.77 million shares at Rs 425 per share, data shows. VLS Finance (6.71%) and VLS Securities (6.79%) collectively held 13.5% stake in Relaxo Footwears at the end of December 2015 quarter.
Among the other individual stocks, Liberty Shoes has rallied 10% to Rs 184, extending Monday’s 16% rally on back of heavy volumes. The trading volumes on the counter jumped multiple-folds with a combined 1.28 million shares changed hands till 10:23 am, against an average sub 100,000 shares that were traded daily in past two weeks on the NSE and BSE.
Lawreshwar Polymers (up 7% at Rs 47), Mirza International (up 3% at Rs 108), Superhouse (3% at Rs 159) and Bata India (up 1.3% at Rs 530) were up more than 1% each on the BSE. These stocks rallied between 5%-25% in past two trading sessions as compared to unchanged in the S&P BSE Sensex.
